Multiplied by: Renovation Allowance based on the age of the current facility.

Existing schools are eligible for a percentage of the replacement cost based on the age of the facility.

40+ years - 60%

25 to 39 years - 50%

16 to 24 years - 40%

0 to 15 years - 10%

An additional 5% can be added to a renovation project that includes an addition.

Subtracted by: Any previous amount of funding awarded to the current facility by the SBA.

SBA Square Footage Cost Allowance

The SBA Square Footage Cost Allowance is updated annually by the SBA Staff and is based on historical data, projections, and assumptions. It assumes a competitive bidding market, reasonable site costs, and required conformance to the SBA's Quality and Performance Standards.

Current SBA Square Footage Costs Allowance is as follows:

Elementary Schools - $256/SF

Middle Schools - $252/SF

High Schools - $250/SF

For Example

To renovate and add an addition to the existing County High School, which was built in 1970, serves 525 Students, and received a $1,000,000 MIP grant from the SBA in 2010, we would calculate: